Morgan Stanley analyst Adam Jonas maintains Tesla (NASDAQ:TSLA) with a Overweight and lowers the price target from $345 to $320.
Morgan Stanley analyst maintains Tesla (NASDAQ:TSLA) with a Overweight Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month price target by $14 to $138, based on 23.0x our FY 25 (Jan.) EPS estimate and slightly lower than the company’s 5-year average forward P/E multiple of 23.8x. We raise our FY 25 EPS estimate by $0.50 to $6.00 and initiate our FY 26 EPS estimate at $6.40. ROST posts normalized Q4 EPS of $1.82 vs. $1.31, $0.17 above consensus estimates on revenues of $6.02B vs. $5.21B and $208M above estimates. ROST said Q4 revenues and EPS benefitted by $308M and $0.20, respectively, due to the 53rd week in the FY. Q4 operating margin expanded by 165 bps Y/Y to 12.4% due to strong gains in same-store sales and lower freight costs. The company’s board approved a new $2.1B share repurchase program and
CFRA Maintains Hold Opinion On Shares Of Ross Stores, Inc. Read Post »
By James Rogers Target’s stock soared following the company’s fourth-quarter results Tuesday Target Corp. is well positioned for growth in its second-quarter as the retail giant gets past the challenges of recent years, such as the 2023 controversy over Pride-themed products, according to analyst firm D.A. Davidson. The discount retailer’s shares soared following the company’s fourth-quarter results to end Tuesday’s session up 12%. The stock is up 3.3% Wednesday. “For all the enthusiasm around TGT’s 4Q23 results, sales are still down year over year and are expected to be again in 1Q24,” wrote D.A. Davidson analyst Michael Baker, in a note released Tuesday. “But, the pivot to growth is coming, most likely in 2Q24 as TGT cycles the start of the worst of the negative comps a year ago, in part due to the Pride issue.” Target (TGT) pulled Pride-themed products from some stores in the run up to June
Target’s ‘Pivot to Growth’ Coming as It Moves Past Recent Issues, Says D.A. Davidson Read Post »
Target’s 4Q results and 2024 guidance are evidence that the retail giant is rebounding from a rocky 2023, as seen by its continued margin recapture and sequential improvements on the top line, UBS analysts say in a research note. There was quarter-to-quarter improvement in most discretionary categories, including toys and consumer electronics, which coincided with some sequential moderation in food inflation, the bullish analysts say. That suggests that a lack of food inflation this year could unlock some extra dollars in consumers’ budgets for discretionary spending, they say, raising their price target on the stock to $191 from $174. Shares rise 3.8% to $175.04.
Target’s Recovery Looking Well on Its Way Read Post »
The following is a summary of the Ross Stores, Inc. (ROST) Q4 2023 Earnings Call Transcript: Financial Performance: Ross Stores exceeded Q4 predictions, with earnings per share rising to $1.82, a significant leap from the previous year’s $1.31. The company saw Q4 2023 sales climb to $6 billion, boosted by a 7% increase in comparable store sales. Net income for fiscal year 2023 rose to $1.9 billion from $1.5 billion recorded in the previous year, whilst earnings per share increased to $5.56 from $4.38. The 2023 fiscal year results included a beneficial $308 million and an additional $0.20 per share due to the 53rd week. Q4 saw an operating margin increase of approximately 165 basis points to 12.4%. The company repurchased 1.9 million shares of common stock for $247 million in Q4 and 8.2 million shares for $950 million throughout the fiscal year. For 2024, earnings per share are projected
Ross Stores (NASDAQ:ROST) Q4 2023 Earnings Conference Read Post »
Morgan Stanley analyst Adam Jonas on Tuesday noted both product and market issues as he slashed target price and FY24 earnings estimates for EV giant Tesla Inc (NASDAQ:TSLA). Analyst Rating: The analyst cut the target price from $345 to $320 while maintaining an ‘overweight’ rating. Tesla Thesis: In a note, the analyst noted the several downsides plaguing Tesla at the minute including dwindling EV demand, older product line-up as compared to other automakers, heavy competition and price war in China, and not the least, the increasing popularity of hybrids over battery electric vehicles in the company’s primary market of U.S.. “If there was ever a time for Tesla to potentially post a GAAP EBIT loss in the auto business, it may be this year,” Jonas wrote. The analyst said that he expects the EV giant’s first-half results for the year will fail to meet expectations with GAAP operating margins in the 2-3% range. After taking a severe
Lyft (LYFT) is a “stable duopoly” with a potential for a DoorDash (DASH) partnership, RBC Capital Markets said in a note to clients Monday. The investment firm upgraded Lyft’s rating to outperform from sector perform and raised its price target to $23 from $17. RBC said its latest driver supply analysis points to a “stable duopoly” compared with the past two years, which showed Uber (UBER) “flexing its structural advantage.” “The improved execution of Lyft’s core business is foundational to our thesis in that it allows it to build scale and marketplace efficiency to grow down-market products which drive elasticity and gives any potential partners greater confidence in being a sustainable competitor longer term,” RBC analysts said. A partnership with DoorDash “makes enormous sense and becomes more probable,” RBC said. The analysts estimate mid-single-digit to mid-teens of additional orders is possible, along with a 22% revenue or rides headwind, which
Lyft a ‘Stable Duopoly’ With Potential for DoorDash Partnership, RBC Says Read Post »
Benchmark analyst Matthew Harrigan reiterates Warner Bros. Discovery (NASDAQ:WBD) with a Buy and maintains $20 price target.
Benchmark analyst reiterates Warner Bros. Discovery (NASDAQ:WBD) with a Buy Read Post »
Boeing stock turned higher in Monday trading after investors stopped worrying about quality problems for a minute and thought about strong demand for new commercial jets instead. Boeing shares had dipped to as low as about $197 early Monday after Friday’s $200 close. Investors have been weighing what a potential takeover of supplier Spirit AeroSystems Holdings means for Boeing stock and efforts to improve manufacturing quality. Both companies confirmed talks this past Friday. Early Monday, Boeing stock was down about $10 dollars since buyout talks surfaced. Spirit Aero shares were up about $5, to $33.32 over the same span. Boing shares rebounded, for a gain of about 0.3% in midday trading while the S&P 500 and Dow Jones Industrial Average are down 0.1% and 0.2%, respectively. American Airlines Group helped turn things around. Monday, American announced an order for 260 jets, including 85 Airbus A321neo jets and 85 Boeing 737
American Airlines MAX 10 Jet Order Juices Boeing Stock — Barrons.com Read Post »
Netflix sees its strategy for game licensing following a familiar playbook. CFO Spencer Neumann says at a Morgan Stanley conference that the company’s relatively new gaming business is just starting to add in-house content. Like with TV and film, Neumann says he expects the company to over time build a higher mix of non-licensed content. He says licensed games are likely going to play a major role in the company’s games business for a long time, “probably forever.” “The mix will change over time,” Neumann says. The company sees games driving further retention on the platform in the future.
Netflix Sees Games Following Similar Path To TV, Film Read Post »
Target Sees 1Q EPS $1.70-EPS $2.10。
Target Sees 1Q EPS $1.70-EPS $2.10 Read Post »
Target: Had About $9.7 Billion of Remaining Capacity Under Repurchase Program as of 4Q End。